Cornerstone OnDemand, Inc. provides cloud-based talent management
solutions delivered as software-as-a-service. It provides recruiting,
onboarding, learning, performance, succession, compensation, extended
enterprise, and salesforce products offerings. The company offers
Enterprise and Mid-Market solution that is a cloud-based suite that
addresses hiring, developing, engaging employees throughout their
careers, and cultivating future leaders. The Enterprise and Mid-Market
solution also helps enhancing business execution through integrating
with an organization’s extended enterprise of clients, vendors, and
distributors by delivering training, certification programs, and other
content. It also provides Cornerstone Growth Edition, a cloud-based
talent management solution with learning and performance product
offerings targeted to organizations with approximately 400 employees, as
well as cross-product tools for analytics and reporting, employee
profile management, and e-learning content aggregation.
Take a look at the 1-year chart of Cornerstone (NASDAQ: CSOD) below with my added notations:
CSOD has been trending lower for most of the past year. Over that
time, the stock has formed an important trend line of resistance (red).
Always remember, any (2) points can start a trend line, but it’s the 3rd
test and beyond that confirm its importance. CSOD obviously has an
important trendline of resistance, which currently sits right around
$32.
The Tale of the Tape: CSOD is currently stuck under a
down trending resistance. A break above that resistance should mean
higher prices, thus a long trade could be made. Short traders might look
to enter a trade at the resistance.
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